Egon Scheile's Schlafender Mann (1910) could make $200,000-300,000 at Swann Auction Galleries in New York.
The work will highlight a sale of 19th and 20th Century prints and drawings on September 21-23.
Egon Scheile (1890-1918) was an Austrian artist whose work is considered a key stepping stone in the development of expressionism.
The auction house explains: "This portrait is a stunning example of Schiele's experimentation with color and line, dating from a significant peak in his creative output in 1910, a year during which he gave particular focus to studies of the male form.
"Though it is a clothed portrait, the angularity in Schlafender Mann parallels the emaciated figure-type common in Schiele's male nudes."
The record for Scheile's work stands at £24.7m ($37.6m), set for a painting titled Hauser mit bunter Wasche Vorstadt II (1914) at Sotheby's London in 2011.
Pablo Picasso's Jacqueline au Bandeau de Face (Grand Tete de Femme) is expected to sell for $100,000-150,000.
Earlier this year Picasso's La Femmes d'Alger Version O sold for a record breaking $179.3m at Christie's New York.
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